top of page

Recovery and growth

(1998-2008)

Russia begins economic growth since 1998, due to the different measures taken as devaluation of the ruble. With this measure, producers became more competitive nationally and internationally.

Between 2000 and 2002 a comprehensive tax reform was carried out, which introduced a fixed income tax of 13%; and a broad deregulation effort that improved the situation of small and medium enterprises.

Between 2000 and 2008, 7% per annum, income and consumption will be published. In this period, the number of people living below the poverty line (from 30% to 14%) also decreased.

The devaluation of the ruble was the reason why the central bank had to realize a monetary expansion to fight the appreciation. In 2007 he achieved an 'unprecedented economic stability'.

bottom of page